💰Is OpenAI Worth $100 Billion? Apple, Nvidia, and Microsoft think so.Plus: California Assembly Passes AI Bill.
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Friday is here, kicking off a long weekend for many of us—plenty of time to recover from the rollercoaster Nvidia’s earnings brought to the markets and the industry. Meanwhile, OpenAI is raising more funds, and all the tech giants, including Nvidia, are ready to chip in. California is also on the brink of passing a crucial AI bill, and we’re excited to share a new "Building in Public" project we've started. Buckle up and enjoy the ride!
📰 AI News and Trends
🌐 Other Tech news
Is OpenAI Worth $100 Billion?Apple, Nvidia, and Microsoft think so.
OpenAI is discussing raising several billion dollars in a new funding round, potentially valuing the company at over $100 billion. Thrive Capital is leading the round with a $1 billion investment, and Microsoft, Nvidia and Apple are reportedly in discussions to join a new funding round for OpenAI to help the company cover its rising costsis also expected to participate. This funding would be the largest since Microsoft's $10 billion investment in January 2023. OpenAI was last valued at $86 billion, and recent private stock sales suggest around $103 billion. The company faces a lot of competition today and the industry is not what it was just a few months ago, Claude, Microsoft itself, Goole, Apple, and Xai are all competing for market share and chips are getting harder to snatch. The capital is essential for OpenAI's goal of developing artificial general intelligence (AGI), which requires significant investment in data processing and supercomputers. Despite fierce competition, OpenAI's ChatGPT now has 200M+ weekly active users, 2x from Nov. 2023, and it remains the market leader with hundreds of millions of users. However, the AI industry is still speculative, with OpenAI generating $3.4 billion in annualized revenue earlier this year. Microsoft's ongoing investment indicates a strong, albeit competitive, relationship with OpenAI. Should OpenAI Go Public?The world's most valuable private companies, like Stripe and ByteDance, have delayed going public by leveraging profitability and private capital. However, OpenAI, despite its high valuation, may face pressure to go public sooner, potentially by 2026, due to its high capital needs and lower profitability. Unlike its peers, OpenAI may struggle to sustain its funding through private sources alone. The company might need to restructure from its current nonprofit status before an IPO, and its recent hire of experienced CFO Sarah Friar signals a possible preparation for going public. An IPO could be necessary to secure the cash OpenAI needs for its future operations. California Assembly Passes AI Bill.
The California State Assembly passed a bill with a 41-9 vote that could make AI companies liable if their technology causes harm. The bill mandates that companies developing large AI models must test for severe risks, such as enabling cyberattacks, before releasing their products. If they fail to do so, the California Attorney General could sue them. The bill, now headed to Governor Gavin Newsom, has sparked a heated debate. Supporters argue it's necessary for safety, while opponents, including major tech firms, warn it could stifle innovation and overstep state boundaries. Newsom’s decision could set a national precedent for AI regulation. Building in Public - Day 1.I'm starting a new section to share my journey in building AI and computer vision applications. For this, I've partnered with OpenCV.org, a leading open-source library originally developed by Intel for real-time computer vision. With cross-platform support and GPU acceleration, it's a powerful tool for developers. I'll be working on and sharing a range of apps, from applying filters to images to tracking objects in live video feeds. My first project is a simple image manipulation tool that lets users upload an image, which the program reads and applies a vintage filter to. I tweaked and simplified this code to I build it on my Mac using Python for the backend and HTML for the front end. To make it accessible, I deployed it on a $4/month Digital Ocean droplet.  The app is functional, but I'm still troubleshooting an issue where the processed image (they are save in this folder) points to the wrong folder.  Below is the above image processed. The filter settings can improve with easy tweks to the code, and Ill get to that when is fully functional which is the challege.
Despite its simplicity, this is just the beginning. I'll be sharing more complex projects as I progress in my computer vision journey. I'd love to hear your thoughts and ideas—let’s build together! 🧰 AI ToolsSales IV
🚀 Showcase Your Innovation in the Premier Tech and AI Newsletter (link) As a vanguard in the realm of technology and artificial intelligence, we pride ourselves in delivering cutting-edge insights, AI tools, and in-depth coverage of emerging technologies to over 55,000+ tech CEOs, managers, programmers, entrepreneurs, and enthusiasts. Our readers represent the brightest minds from industry giants such as Tesla, OpenAI, Samsung, IBM, NVIDIA, and countless others. Explore sponsorship possibilities and elevate your brand's presence in the world of tech and AI. Learn more about partnering with us. You’re a free subscriber to Yaro’s Newsletter. For the full experience, become a paying subscriber. Disclaimer: We do not give financial advice. Everything we share is the result of our research and our opinions. Please do your own research and make conscious decisions.
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Friday, August 30, 2024
💰Is OpenAI Worth $100 Billion? Apple, Nvidia, and Microsoft think so.
Monday, August 26, 2024
🤖Apple's Robotics Set To Debut in 2026.
🤖Apple's Robotics Set To Debut in 2026.Plus: China's Tech Titans Ramp Up AI Investments Amid U.S. Tech Curbs.
Get in Front of 50k Tech Leaders: Grow With Us - Let Us Feature You.
Mondaaaaayyyyy, How are you doing? Here's what we're diving into today: Home robots are arriving faster than anticipated—some will win hearts, while others might not fare as well. Meanwhile, China is accelerating its investments in AI across the board. However, there's growing concern among experts about the quality of data being used to train these rapidly deployed AI models. Let's delve deeper.
📰 AI News and Trends
🌐 Other Tech news
Apple's Robotics Set To Debut in 2026.
Apple is delving into robotics to diversify its product lineup beyond the iPhone. This move is part of a broader strategy to integrate Apple devices more deeply into consumer lifestyles, potentially addressing "first-world problems" by making devices more accessible and versatile in everyday settings, like using an iPad that autonomously moves to be within reach. This venture into robotics, led by Kevin Lynch, aims to bring about innovative solutions such as mobile and humanoid robots, with a focus on a tabletop robotic device expected around 2026-2027. While still in its early stages, the project reflects Apple's ongoing commitment to pioneering new technologies, despite past setbacks like the discontinuation of its autonomous car initiative. Concerns Rise Over AI Training Data.Garbage in, Garbage Out.
AI researchers are concerned about a phenomenon known as "model collapse," where AI systems deteriorate when trained on data that includes content generated by AI itself. This issue, highlighted in a recent study published in Nature, shows that training on AI-generated content can lead to nonsensical outputs and significant errors. This presents a risk for the future of AI development, as online data increasingly contains such AI-created content. To mitigate these risks, the paper suggests that AI developers need high-quality, human-generated data and better coordination to track and manage the sources of their training data. 🧰 AI ToolsSales II
China's Tech Titans Ramp Up AI Investments Amid U.S. Tech Curbs.
China's tech giants, including Alibaba, Tencent, and Baidu, are aggressively investing in artificial intelligence despite U.S. restrictions that aim to curb their access to advanced technologies. These companies have significantly increased their capital expenditures, doubling to RMB 50 billion ($7 billion) in the first half of the year, compared to RMB 23 billion the previous year. Their investments focus on acquiring processors and infrastructure to power AI model training. Despite constraints on accessing Nvidia’s top AI processors due to U.S. export controls, these firms are purchasing lower-performance Nvidia processors like the H20, which are designed to stay within U.S. computing power limits. This surge in spending is driven by a combination of factors, including high demand for AI capabilities and strategic investments in AI startups, which often involve incentives like cloud service vouchers. 🚀 Showcase Your Innovation in the Premier Tech and AI Newsletter (link) As a vanguard in the realm of technology and artificial intelligence, we pride ourselves in delivering cutting-edge insights, AI tools, and in-depth coverage of emerging technologies to over 55,000+ tech CEOs, managers, programmers, entrepreneurs, and enthusiasts. Our readers represent the brightest minds from industry giants such as Tesla, OpenAI, Samsung, IBM, NVIDIA, and countless others. Explore sponsorship possibilities and elevate your brand's presence in the world of tech and AI. Learn more about partnering with us. You’re a free subscriber to Yaro’s Newsletter. For the full experience, become a paying subscriber. Disclaimer: We do not give financial advice. Everything we share is the result of our research and our opinions. Please do your own research and make conscious decisions.
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